THREE SET UPS - futures io
futures io



THREE SET UPS


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Jeff Castille with 215 posts (429 thanks)
    2. looks_two cunparis with 146 posts (154 thanks)
    3. looks_3 shodson with 125 posts (211 thanks)
    4. looks_4 Fat Tails with 73 posts (189 thanks)
      Best Posters
    1. looks_one Fat Tails with 2.6 thanks per post
    2. looks_two Jeff Castille with 2 thanks per post
    3. looks_3 shodson with 1.7 thanks per post
    4. looks_4 cunparis with 1.1 thanks per post
    1. trending_up 221,847 views
    2. thumb_up 1,368 thanks given
    3. group 125 followers
    1. forum 1,073 posts
    2. attach_file 239 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

THREE SET UPS

(login for full post details)
  #461 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,870 since Mar 2010
Thanks: 4,238 given, 26,871 received

Thanks, found it now, post #115 of this thread.


cunparis View Post
I did extensive backtesting and posted my results including the optimizations and the equity curves in this thread. You may want to read over my previous posts.

I am not a fan of backtesting because I use a lot of discretion. But this is a really simple setup so I thought backtesting would give me more confidence to trade it. I'm sure results can be improved with discretion but I simply don't have the time to invest right now.


Reply With Quote

Can you help answer these questions
from other members on futures io?
value chart indicator by sim22
NinjaTrader
mahDualCandlePattern
NinjaTrader
need help with easy language OR breakout code:)
Traders Hideout
Tips for directional bias during Asian Session?
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
44 thanks
How many day traders are profitable?
29 thanks
Why you should move from futures to forex
15 thanks
Attached Orders
13 thanks
fx "traders" hate real profitable traders
8 thanks
 
(login for full post details)
  #462 (permalink)
 shodson 
OC, California, USA
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,969 since Jun 2009
Thanks: 533 given, 3,683 received


Fat Tails View Post
An inside bar on low volume just above strong support is not bearish at all. Of course it easier to see this with hindsight than in real-time. I just want to come back to the idea of Tony Crabel here, who introduced the concept of a breakout preference, which means that you only take the breakout in a defined direction.

Where can I learn more about Crabel's thoughts on breakouts and breakout preference?

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #463 (permalink)
 shodson 
OC, California, USA
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,969 since Jun 2009
Thanks: 533 given, 3,683 received



Fat Tails View Post
The problem with the setup is that the inside bar occured just above extremely strong cross-support on declining volume. Declining volume means a low probability that the countertrend continues and breaches the support line.

Most inside bars happen on decreasing volume because they are a sign of market indecision, so I'm not sure filtering out low volume IBs will do any good. Just looking at my charts every IB in July had less volume than its previous bars.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #464 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,870 since Mar 2010
Thanks: 4,238 given, 26,871 received

If you take absolute volume, you are certainly right.

Some inside bars have higher volume per range than the preceding expansion bar. These are churn bars. The pattern expansion bar + churn bar can be predictive of a reversal, if other conditions are met, such as below/above support/resistance and overbought/oversold conditions.


shodson View Post
Most inside bars happen on decreasing volume because they are a sign of market indecision, so I'm not sure filtering out low volume IBs will do any good. Just looking at my charts every IB in July had less volume than its previous bars.


Reply With Quote
 
(login for full post details)
  #465 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
cunparis's Avatar
 
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,088 received


Fat Tails View Post
If you take absolute volume, you are certainly right.

Some inside bars have higher volume per range than the preceding expansion bar. These are churn bars. The pattern expansion bar + churn bar can be predictive of a reversal, if other conditions are met, such as below/above support/resistance and overbought/oversold conditions.

Reversal depends on your timeframe.

If price goes up then drops 20 ticks and makes IB then a reversal could be down (to reverse the big move up) or up to reverse the 20 tick drop.

I bracket it because price is in a trading range and I don't know which way it will go. I think continuation is as likely as reversal.

Follow me on Twitter Reply With Quote
 
(login for full post details)
  #466 (permalink)
 futurestrader1 
New York City, USA
 
Experience: Advanced
Platform: NinjaTrader
Trading: ES, CL, 6E
 
futurestrader1's Avatar
 
Posts: 149 since Jun 2010
Thanks: 81 given, 42 received

Wow, that looks great and also a good thing to know that the ES actually looks much safer an instrument to trade this.

Reply With Quote
 
(login for full post details)
  #467 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
cunparis's Avatar
 
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,088 received


futurestrader1 View Post
Wow, that looks great and also a good thing to know that the ES actually looks much safer an instrument to trade this.

If you're refering to my post with the profit factor, the trades for ES are NOT inside bar.

Follow me on Twitter Reply With Quote
 
(login for full post details)
  #468 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,870 since Mar 2010
Thanks: 4,238 given, 26,871 received

This thead is getting a bit cumbersone. You will find information on Tony Crabel in post #409. His book is not easily available, unless you look for illegal copies. He has not published again, but is running a hedge fond with more than USD 1 billion under management. I guess that some of his findings were real. The book is a bit outdated, but a real classic, comparable to Welles Wilder's "New Concepts in Technical Analysis" from 1978.


shodson View Post
Where can I learn more about Crabel's thoughts on breakouts and breakout preference?


Reply With Quote
 
(login for full post details)
  #469 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
cunparis's Avatar
 
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,088 received


Fat Tails View Post
This thead is getting a bit cumbersone. You will find information on Tony Crabel in post #409. His book is not easily available, unless you look for illegal copies. He has not published again, but is running a hedge fond with more than USD 1 billion under management. I guess that some of his findings were real. The book is a bit outdated, but a real classic, comparable to Welles Wilder's "New Concepts in Technical Analysis" from 1978.

The Crabel book is a great book. I don't consider obtaining a copy of something illegal if the something is no longer available for purchase. Neither Crabel nor the publisher will make or lose any money from the PDF copies of his book. If fact the only ones who could lose money would be the speculators who paid $$$ for the book hoping for a greater fool.

Follow me on Twitter Reply With Quote
 
(login for full post details)
  #470 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,870 since Mar 2010
Thanks: 4,238 given, 26,871 received


Hi cunparis,

if you read between the lines - my statement included the information that

- copies are available
- that these copies are illegal copies
- that Toby Crabel is somewhat richer than we are

I don't make recommendations, how to use this info. I have personally spent more money on good books than on my PC and my trading software, so I do not have a bad conscience to disseminate some ideas.


cunparis View Post
The Crabel book is a great book. I don't consider obtaining a copy of something illegal if the something is no longer available for purchase. Neither Crabel nor the publisher will make or lose any money from the PDF copies of his book. If fact the only ones who could lose money would be the speculators who paid $$$ for the book hoping for a greater fool.


Reply With Quote


futures io Trading Community Trading Journals > THREE SET UPS


Last Updated on May 15, 2014


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2022 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts